Authority: National Company Law Tribunal, New Delhi Court III (Division Bench)
Order Date: 08 July 2026
Case Overview
This order pertains to multiple Interlocutory Applications (IAs) filed in the main insolvency petition CP No. IB-449(PB)/2019, initiated by Oriental Bank of Commerce under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Piyush Colonisers Ltd & Ors. The proceedings involve various parties including the Applicant bank, the Resolution Professional (Mr. Ashish Singh), the Successful Resolution Applicant, and the Department of Town and Country Planning (DTCP), Haryana.
Final Outcome
The Tribunal passed specific orders on each application:
- New IA-3028/2026: This application, which sought to direct the Tribunal to fix maximum timelines for considering IA No. 6180 of 2023 (filed by the Resolution Professional), was dismissed. The Bench deemed the prayer "frivolous."
- IA-2012/2026: This application sought to place on record a copy of the Provisional Attachment Order No. 08/2026 issued by the Directorate of Enforcement, Gurugram Zonal Office. The Tribunal noted this order was already on record by the Resolution Professional and thus disposed of the application, stating no orders were required.
- IA-1466/2025: After hearing submissions from the applicant's counsel (Mr. Sanchit Garga) and the Resolution Professional's counsel (Mr. Abhishek Anand) in part, the matter was adjourned to 24 July 2026 for further arguments.
- R Plan-6180/2023, IA-2425/2021, IA-475/2025, IA-655/2025, IA-1452/2026, IA-3828/2024, IA-3996/2024, IA-37/2025, IA-5625/2021: All these pending applications, including the one concerning the Resolution Plan, were listed for hearing on 24 July 2026.
The main insolvency proceeding remains ongoing.
Topics: Corporate Insolvency, NCLT Proceedings, Enforcement Directorate Attachment